Brand new ABOVE THE LINE deduction for Charitable Contributions! The new tax law TCJA effective a few years ago, doubled everyone’s standard deduction reducing the number of taxpayers that continue to itemize their deductions. Now, charitable contributions are...
WV Retirees will pay less tax since new legislation makes Social Security Benefits non-taxable. This change is being phased in over the new few years and this is how tax year 2020 will look: A certain percentage of the Social Security retirement benefits that...
Message to young people – It’s easy to get caught up in the fun of spending money when you’re just starting to enjoy your own income and independence, but it’s important to learn to say ‘no’ to yourself,” says Tina Hay, CEO and founder of Napkin Finance, a...
CREDIT CARDS – The Good, The Bad & The Ugly THE GOOD May be used as a tool for building your credit score. May be used for rewards. THE BAD Many pitfalls exist to the above and these companies ultimately want to charge you interest, charge you fees and make money...
Most young people don’t learn the tenets of personal finance in school; however, building solid habits throughout your teens and early twenties can help set you up for a truly prosperous life. Everyone approaches money differently and situations vary, but there are...
WHY DO WE PUT OFF FINANCIAL DECISIONS? The biggest reason people put off a financial decision is that it isn’t the “right time” or they’re too busy. Think about what really happens when you put something off. It is usually a lack of confidence or lack of...
Top reasons audited 1) Math errors: 2) Miscalculating tax credits: 3) Not reporting some income: 4) Taking losses: 5) Using Round numbers: Our focus is on you as we quickly and accurately uncover all tax deductions and tax credits available to you in order to minimize...
New Child Tax Credit & ODC The new Child Tax Credit increased from $1,000 to $2,000 per qualifying child, the credit applies if the child is younger than 17 at the end of the tax year, the taxpayer claims the child as a dependent, and the child lives with the...
Tax Tip Bonus Depreciation This one change in the tax law made it the best time ever to start your own business. The new tax law increased the amount you can write off for equipment from 50% to 100% in the year it was purchased, now qualifies on new or used...
Eric Hersman of Hersman and Associates Announces Affiliation with Dave Ramsey’s Endorsed Local Provider Program November 8, 2018–Eric Hersman of Hersman & Associates, located in Ripley, WV is excited to announce he has recently been named an Endorsed...
Recent Comments